The Bank Verification Number (BVN) issued in Nigeria by the Central Bank remains valid indefinitely, with no expiration date, according to a recent statement by the CBN.
According to a statement released on Wednesday by the Central Bank of Nigeria’s acting spokesman, Isa Abdulmumin, the Bank Verification Number (BVN) issued by the bank in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) has no expiration date. This clarification comes in response to reports suggesting that the BVN expires after a 10-year period.
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The CBN emphasized that once a customer’s biometrics have been captured and enrolled in the NIBSS database, the BVN remains valid for life. However, the regulatory framework for BVN issued by the CBN in 2021 outlines the conditions under which customers may change their records, subject to clearance by relevant authorities.
The BVN, which serves as an individual’s universal ID in all Nigerian banks, comprises an 11-digit number that allows customers to conduct secure transactions at any point of banking operations. The CBN urged customers, especially those whose biometrics have been captured by the system, to continue using their unique identifiers throughout their lifetime.
